Fisker Seeks Additional $150 M in Investment Funds
Unlike exotic EV maker Tesla’s relative success story, Fisker’s has been one riddled with scandal and financial scrambling, the latest of which sings to the tune of $150 million.
The future didn’t always look so questionable for Fisker. It was one of the few brands to secure $529 million in funding from the Department of Energy’s program to push for more green vehicles, but as so many others discovered, that money might turn out to be somewhat of a mirage. Recent reports suggest that roughly half of the government’s promised loan won’t make it onto Fisker ledgers after all, leaving the company to look elsewhere.
Enter private investment. With money meant to be the cornerstone of Fisker’s plan to retool a former GM plant in Delaware for its Atlantic sedan evaporating, the automaker has little choice but to go back on the hunt for funds. Unfortunately, finding investors willing to fork over the goods might be harder than it was last time.
The company’s fire scandal reared its ugly head again last week after lying dormant for more than two months, which can’t be a positive point to adress during an investment pitch.
GALLERY: Fisker Karma
Luke is an energetic automotive journalist who spends his time covering industry news and crawling the internet for the latest breaking story. When he isn't in the office, Luke can be found obsessively browsing used car listings, drinking scotch at his favorite bar and dreaming of what to drive next, though the list grows a lot faster than his bank account. He's always on <A title="@lukevandezande on Twitter" href="http://twitter.com/lukevandezande">Twitter</A> looking for a good car conversation. Find Luke on <A title="@lukevandezande on Twitter" href="http://twitter.com/lukevandezande">Twitter</A> and <A title="Luke on Google+" href="http://plus.google.com/112531385961538774338?rel=author">Google+</A>.
More by Luke Vandezande
Comments
Join the conversation
The future of electric cars costing $40-100k is indeed bleak. Sales for the Volt are also in the basement. Time to re-think the strategy, folks.
More Volts are sold than Corvettes. I guess the car industry needs to re-think sports cars too.